Data Furnishing
What is a Data Furnisher?
A data furnisher is an entity that reports consumer or business credit data to credit bureaus. This process is highly regulated to ensure accuracy, fairness, and compliance with federal laws such as the Fair Credit Reporting Act (FCRA).
Learn how to become a data furnisher
How to Become a Data Furnisher
Step 3. Establish a Reporting System
To comply with bureau standards, you must:
- Implement a system to collect and store accurate credit data
- Use a Metro 2® Format, the industry standard for credit reporting
- Ensure compliance with the FCRA and FACTA (Fair and Accurate Credit Transactions Act)
4. Apply with Credit Bureaus
Each credit bureau has its own application process. Most require:
- A completed Data Furnisher Agreement
- A minimum number of accounts to report (often 100+ per month)
- An upfront compliance audit
5. Maintain Compliance and Accuracy
Once approved, data furnishers must:
- Report accurate and updated information regularly
- Respond to consumer disputes within 30 days (per the FCRA)
- Conduct ongoing compliance reviews to avoid penalties
